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esczasie,
THE CHINA MAIL, TUESDAY, JUNE 24, 1947..
New Era In Anglo-Indian Economic Relations
By Dr. F. Kessler
This
Apart
The rapid transformation, task has much in common with, had been much smaller. taking place in the countrien off that of other nations having process has continged. the Far East is commonly, re-economic interests in the Far From the exceptional upstart cognised as one of the foremdst East,
evented by the war, mome struc- poilical developments in con- The particular and particular- | turat economile changes were temporary history. The defent ly complicated British problem bound to come at any rate after of Japan with the ensuing springs naturally from the con- the cessation neveral decades separation of her overseas pos- sequences inherent in the new ago of new British investiment, neanions and the liquidation of order being built in India and after the industrial development Ther self-styleg co-prosperity to a lesser degree, in Burma. described give, and after the sphere In South-East Aala, the But pointing to the com-commercial measures which pro- liberation of Chinn (although plexity of the change which is lected young Industries and gave not yet entirely liberated from, almont without precedent in Indlun goods free ur preferential ********* | civil atrife), the constitutional modern history does not mean entry to British markets. Tho
COST OF LIVING
re
changes in Burma, Ceylon and that the situation Britain is urgent war needs of the Alles other territories, the settle- | ronfronted with is unavoidably did the rest. British competitive ment in Indonerin and, most | bonud up with lossng in the power diminished and the important of all, the quickenhur commercial and financial stand-| salt is that many of the “tradi- pace in the url stage leading ing.
tional ebakomle grievances of to the independence of lin Sacelfires there will be in the India have actually already been all these events are so obvious first instance, but whether in removed well before the coming ly shaping the now world ple- the long run they turn out to in force of the constitutional re. fure that their political impact he well balancing investments forms. tends to over-shaulow the econo or permanent losses, remains
In be seen. inic effect.
A New Era
CARNIVAL →7
By Dick Turnar
COPIE 1847 BY NÉN BERVICZ, MIS T. JA HEM 11 ↑ FAT OFF.
-10
"They're lovely, but we'd better not get too friendly, eh, Mr. Justly, if I'm to be your, mother-in-law?”
BARCLAY ON BRIDGE
By Shepard Barclay
ex-
"The Authority on Authorities"
FIRST PSYCHIC LESSON
huva seen that Wert could not possibly have enough strength for a sound opening.
It has always been the com plaint against the Labour Of tices' feast and fuel figures that, compiled as they are from a res tricted age of commafities, they
Even In Britain with her Assured marketa And in bear on actual relation to the vast
This might be the great op of living even of that class in the firmly established commercial tegrated economies offer ad-
ties with the Far East the ap- vantagen which Britain and In-portunity for the introduction of ecommunity for whom, principally,preciation ไม่ Liv economie din mutually and equally enjoy:ļa new era in the economic and they are devised, and that, there aspect of the problem has been therefore the existing links are financial relations between India Imlustrialination, bie, difficulties ar always likely obscured until recently by the not likely to be braken light-and Britain.
concern" attached to the poli-} heartedly, But profound rationalization and increased et- to arise whenever they are adopt. | teal angle.
changes will take place which, fielency do not entail a reduc- led as the basis for varying the su But now economic considera- however, will affect all coun- tion in trade; the whole interna. tions are coming into the fore-trles maintaining trade rela- tional negotiations jor freer alled Rehabilitation Allavaner.
ground. Two main reasonations with the Far East. They trade going on at present are to practice. the formula fus { contribute to it.
have their origin in the spread-based on the opposite view. If acciation has
Finary, the inaial period of ing of Asiatic nationalism to India is to continue the prexent Bever [secti
transition from war to peace the economic field and in the process she will need more adbried 307 the Labour O
Time economy in the Far East aftermath of the war whichment for vublic utilities. ficer has usually found a male of is nearing completion and the | brought destruction to Japan, for sanitary and pubiłe health
As we have pánted ant resumption of more or less weakness
to China, but tre-purposes, for better housing and an several occasions, this pro normal activitives has become pendous gains in industrialisa- domestic facilities, for the
partly a distinct possibility. tion and modernisation to In- tension of education etc. The in- cedine has demonstrated nut es
partly an accomplished fact. dia.
dependent India will have much wisdom sentially the
the in view of the comprehensive uf
Although the change in the les abjeellons
The key to understanding of If you were going to teach a to obtaining Labor Officer, but the necessity trade and financial interests of structure of Indian economy such goods from Britain, and rather inexperienced player the this situation was vulnerability.
Britain in that part
of the docs make the settlement per- as she will be free to hire cup- facis about psychie bids, the first West, a stranger to both, North for applying an altogether differ-world the Far East was bound haps more difficult, no financial ital and expert assistance, lesson should definitely not be and South, was not vulnerable. us North reckoned ent varistick which will relieve quickly to regain its former or commercial obstacle to the great field for new British in. when and how to make them him-So, as soon
Atselt. It should be on the subject that South had as much strength the Labour Officer from em- prominence in British economle political transformation is con- vesiments will be opened.
life.
ceivable, since the complement- | this.
of recognizing psychic bidding by ns he showed with his, jump' re point one of the major barrassment. It can now he sug
Secondly, the time limit for ry nature of the British and financial problema of post-war the opponents, so that your pupil sponses, he should have deduced could learn how to protect him. that West was payching, and gested that a study be made of the the final British withdrawal Indian economy contains many Britain, the enormous sterling self and his side from loss be therefore probably had an new system on which the cost-of- from India'dispelled also in the basic elements of compromise. delt to India, comes into the cause of them. The most impor- trenely weak hand which made Being index in the British Isles business community
fast 1 ts necessary to keep in mind pieture. Before the war Britant point to emphasize in the him feel that radical mebiures the
industrial progress India had been the creditor. Since beginning is that a drawn up. Just as the Hong doubts about the approach of the
vulnerable were necessary to attempt Inter. new conditions has gone through. Not only then Indla has not only rc- Kong figures, the old British in fundamentally dey as compiled from an exces within a sphere which for gen. has production and production patriated nearly the whole of player seldom tries any kind. of ference with probably strong op. psychle or fake bidding, because ponents. South could have done isively narrow range of commodi.crations had belonged to the capacity increased, but the pro- her external debt of about 300 his risk of loss is too great, but his reckoning still more easily. If CLA became more and more million, but Britain owes India that a tricky player who is not North had even a minimum dou- purely Indian one with shrink-not less than nearly £1,250 mil- vulnerable is more open to suspl. bling hand, he had.practically all ing, capital ar managerial in-ion out of total sterling debts cion fluence from outside. ie. Bri- now amounting to £3,750 mil. tain.
of settling lion, the problem Between 1918 and 1930 the these Habilities. to the beat number of factories in India mutual advantage, or with the rose from leas than 3,000 to al- least possible harmful repercus- mont 10,000,, of which 1.700 sions, is complicated by the ac-15 10 8 7 3 were classed as large industrial companying state of suspense in H. QJ95 Removing Obstacles
undertakings. The cotton in the political relations between D. 10 B problems arising dustry, assisted by. import du- the two countries and also C. JO 2
by for Britain are twofold. The ties, dominates the home mar-some provisions of the Anglo- task is, on the one hand, to re- ket at the expense of British American luan agreement of move the obstacles in the way manufacturers. The import of 1945: /
IN
working field of any sort ol British enterprise, and whose fruits, giving mutual benefit to all partners sharing in those activities, bad substantially contributed Lo the national wealth and the international trade position of Britain,
Thus the
S. Q (
B. A. 8 7 4
n. K 3
C, AK Q 10 D
1
*x.
the strength outside South's own, If either North or South had seen t to use the Blackwood 4-No Trumps, he could have made the situation clear. If timid, then, he should have bid stnall slom. If S. KD 5 2
bold, grand slam. Fourteen con- N
H. 10 G32secutive tricks were available at WED.72
No Trumps, diamonds or clubs S
without a finesse.
Tomorrow's Problem
5: K 0
H. K Q 10 S
D. A 8 7 4 C. 6 4 2
C. 0 4
8. AJ 4
H. K
D. A QJ0847
C. 7 5 3
(Dealer: West.
North-South
North- East
South3 2
S. J. 074
N
H. 9.8 6 4
Dbl.
2 Ni S D
Pass Paze
2 D 4 D
W E
· 3 2
D. 10 9 G 2
D. $
S
C. 0 7.5
S. A 8
of maintaining old established cotton piece-goods from Lanca- By far the greater part of manufacturing, trading, bank-shire Tell from over 3,000 mil- all the sterling balance was in- ing, conveying channels; this lion yards in 1913 to about 200 carred in financing the war, and
million yards in 1938/39, which the debt to India was contracted vulnerable.) means big strides towards self-principally in the defence of In- sufficiency....
West It represents the licavy c prices Britain had to pay for I-Pass
ties, and gave a totally wrong im pression. The problem has now been tackled new and the result promises an index free of most of the criticismus previously applic able. Food is now reduced from Go per cent, to 35 per cent. of the assumed budget, rent, clothing, tel and light from 36 per cent. 25 per cent.. whereas "ather item are raised from 4 per cent to per cent. The commodities comprised under the heading of food are extended so as to inchide a much wider diet, and under the heading fuel and light electricity enters the picture for the first rime. Much the most important change, however, is the big range Lof miscellaneous expenditure hrought into the reckoning. Fur niture, radio sets, bicycles, electric and gas heating and cooking ap pliances, cinema and futball tickets, books, petrol and motor
services to be reflected hencefor- ward in the index figure, which will thereby afford a genuinely were preparing to make the most tion, especially to the northward. The Dutch were at Bazukle when the "Elena" called in there May 21, alaking final orders Batavia.
100 Years
din. Steelworks belonging to the all-Indian Tata-Trust represent |
that the full amount of such a Ago Today
FOUR ENGINED SKYMASTER SERVICES licences are examples of goals and Meti").
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CONTAINING ALL THE LOCAL NEWS OF THE WEEK FROM THE "CHINA MAIL” & “SUNDAY HERALD.”
ON SALE EVERY THURSDAY
(From the files of the "China
Bally-By the "Elena" from Baily we
learn that the natives
the largest steel producing unit dian goods and services, where-Pass in the British Commonwealth
fore it is sought to muke clear Both North and South were and Empire.
victimized by West's psychic debt should riot fall upon Bri Striking progress was 21:0
opening bld... Neither could ret made before World War I in in without any remission.
out of his mind his recollection It has been calculated that, of West opening it, and therefore the manufacture of sugar, soup,
despite very low interest
tain's total external debt would lent of a
cement, glass, paper, hardware matches and in a number minor industries of a moder
H. None
H. AJT
D. K Q J S
C. K 83
CAQ 310
(Dealer: North, Both aldes vül-
rates, the debt service for Bri- bid indented at least the equiva- nerable.)
counted on him to have what lils
couple of defensive If your North-South pair had over 600,000 British workera North or South had believed his result on this deal, what bidding
realistic record of changes in the resistance to the Dutch expedi. type, such as electric lamps and require the whole net output of{tricks, possibly more. If either reason to risk all for a maximum--
general price level,
from
until beyond the turn of the own partner implicitly, he would would you favour?
century.
+
appliances, cooking stoves, tyres paints, usbestos goods and en- amels. Most of these enterprisna Against dis background the have been established with In
desire of India to use as much dian capital and under. Indian of her sterling assets as pos vast growth of Indian industry, machinery, locomotives, aircraft, management. Even where Bri- your Majesty's, slave, Ko-po tial
(From the Peking Gazette.) tish management is still substan-ble to finance her own indua.
trict development must or prevailing, as in jate judged.
canmeren and international trade autocars, tractors
10
A second big difference between the new index and the ld is that the new one will record only fu ture price changes and makes no
ute, the need attempt to relate them to the past.
will of itself expand the British for technical manpower is urgent. At a time of artificial shortages.
connection, The Indian Govern India displays much readiness 10 ment is already faced with preuse avaliable British resources in which are necessarily reflected in Hoppo at Canton) presents a sup. ing share of the capital invested In her present Currency duction problems fore-shadowing this field. the spending habits of the people. plementary memorial
is owned by Indians. The cotton shortage, Britain can ill afford the test which political indepen Opportunities In no realistic comparison with the
Industry has always been main cellor of the Exchequer called several industries has fallers from unrequited exports, as the Chan dence will bring. Output: in "Your slave has further to stately in Indian hands, and now them, Le. deliveries of goods, the war-time peaks, and though it pre-war position is possible. For the same reason it is fut feasible that there was no deficiency more than 70 per cent of the payment for which consists in highe
to construct
of Customs of coal and tea, a large and grow- (Superintendant
11th
apective,
New India
the
British enterprise, capital ant skill will find wide potentialities a permanent indes the daily receipts of the Canton capital in the jute Industry betriking off the equivalent amount. Higher in others demand has so until things are
more normal, custom house at the time they longe to Indians: Sugar refinery from the sterling debt, while it increased titat proportion in the evolution of the new Indi
on, tho otherwise the new index would commenced to be levied In the is entirely under Indian control there is a ready market for sell-ally supply is less than before which will hardly start
first quarter of last year. On the and supplies
the war. This helps to realise principle of a closed eronomy. the whole home Ing the woods, against hard cash that the interests of Britain, and The usefulness of foreign espital soon begin to repeat some of the 3rd of April, however, the vessels market. This proof of receding in hard currencies. The dilemma India in the economic field and is recognised, and the announce errors of the ald. That is why it of war of the English barbarians British predominance in India's after July next, when currently were able, which it is not, to might affect the willingness of
will become still more
obvious
Complementary. Even if Britain mant of now high taxes, which has been decided, very properly, suddenly entered the river, and economie life will serve to лек to construct an emergency index although they retired in a few
will suitable for immediate needs. The days, gradual diminution in the economic effects of the impend-automatically in colle acquire provide India with dollars for the British business and finance
convertibility.
lity quick purchase of Americau adapt or strengthen Its activities question, naturally arises in Bri- revenue was observed afterwards settlement in the right per-Britain has been exporting late capital
goods, no Insting In India, is a general measure. ly more to India' then pho has advantage would result. India and not directed against the Bri tain as to what will happen in
"Unexpectedly In the
But this is only part of the imported ' those industries, which have a month, the casa af.a fight between picture. The ascendancy of indi- stantial proportion but a sub needs the help of the whole tiah. The wish to demonstrate
Achievement
complete aliding scale for wages based on the people and the barbarians oc-genous economle forces was con- port, Proportion of those ex world in executing her. Indus-
ha served
that the wholesale, importation of tors might find BOTTIC external the old index. of the accumulated debt to autonomy also in economie mat-
mechaniand American dex is not related to the old, new sequence of which the merchants War II. Since 1938/89 output of India. There has also bean a car-highly
prost of the tain amount of Indian investment methods
merican expression. But of construction would desire to preserve the basis if not wage agreements will presumably were filled with fear and sus petrol has risen by 35 per cent, in sterling securities, repatria- chiefly result in causing
wide tho
pattern of Commercial 5•and. be necessary. It would be pos-piolon and their hands tied: hence papor by 65. per cent, cement tion of shares of Indian under spread unemployment qt very financial relations is soon from aible to relate the sliding scale to varied from 4,000 tacts to 1,000 by 80 per cent, paints by near-instances of buying. shares
the amount of duties received by 25 per cent, finished steel inkings and even not Infrequent Itilo
of expenso. Saving
recent Instantes: "India'a nay the new index, but, whether in and odd taels per months.
therefore, increasing
regulations put the ly 100 per cent. Owing to hugo-British enterprises; the manu-prospect that India will ta .to
aterling formally in the fact that procedure will be adopt
expenditure in making India a facture of cheap cars in Britain keep the pace of Industrialisation same position as other' foreign "Your slave, being really ap base, for large-scale warfare, the is going to-be opened with Indian in stop with the pace at which exchange, but In fact the be a tendency to drop the sliding prehensive that as the mouths by country has been left with new assets. There acoma to be a ten capital goods. Speed of indus- will be virtually maintained; tho
apital-derived Crom the sterling Britain can supply bor
with mechanics of the present system scale system, which is open
the river are very large and the roads, bridges, airfields, im-lency anong Indian capitalis's triplination, moreover, is not only rupro has been led to gold many objections
nature of the barbarians deceff proved, port facilities ete: The to spread Investment zliks from various
by standpoints. The chief thing is ful and falso, it was impossible to war has brought massive wealth investing part of their own money
ed remains to be seen. There may
to
of
two
question of supply, but of od-retent of the pound sterling at ministration and management. hitherto, but the legal charge... India" has so far depended in will not alter the strength of the varying, though lately diminish...] natural links. The business
Com ing. degrbes upon British 1 munity is convinced that many:
Indians and experience in the die with Britain in fuance and India- "are" anxious to Co-operata
"The vexation of mind of your/ product being 'the trulaing of In-} now no more contested anywhers. {trative personnel and adminia; boeduse, In, their view future"
largo part of
be certain that the crafty mer to the contractors.. aml that there will at least be an index chants did not carry on smuggling "ufacturers with corresponding
man in Britain. with some title to public con- by circuitous routes, then repair increase fidence. Obviously, Hong Kong ed in person to the port of the higher wage rates and greator
in wage' indome by 160-Year Links cannot fully adopt the British Whampoa to superintend, employment, an appreciable by
The necessity of co-operation is classes of Government's new standards of calculation, We could, however, lavo
Already since Indian leaders, although declar- which might, rotiretter, the prosperity allen he wore fre seek a basis which gives a fairer things becomes dally greater. Ho 1981, when Britain left the gold wit refect special safeguards for engineers, either in Britainurmohealth or otherwise., Aar Ins
on seeing this state of dian craftsmen.
ing that their future, Government British, withdrawal, Training, father wither within the Com and more reliable picture, and if can only from time to time take standard and adopted imperial British commerce, and industry in under British supervision, has dia's struggles economie necessary, work out new wage measures and think of schemes preference, India's exporta f India, acknowledge that the itna made considerable" s progross. En rather than political, Britain' can agreements, in conformity with to bring about a gradual incrosse Britain had caught up with her of 150 years cannot be severed recent years, but in the branches, best moel Indlan ambitions.by, an such: new standards.
in the revenues...
| kriporte, whereas ____boform_shoy|without causing much damago; alat heavy machinery, ....: electrical economia.approach.......
Bro